The 499P was designed under the Le Mans Hypercar regulations and therefore does not feature the standardised parts found in cars built to the Le Mans Daytona h regulations, against which it competes. The chassis is manufactured by Dallara. Aerodynamics were developed in conjunction with Ferrari's Styling Centre, headed by Flavio Manzoni, under Ferdinando Cannizzo, head of Ferrari's sports car engineering department.
The car's 2,992 cc (182.6 cu in) twin-turbocharged V6 engine architecture is shared with the Ferrari 296 and its Group GT3 counterpart, the 296 GT3. Unlike the road-going vehicle, the engine is a fully stressed member in the 499P and has been modified to accommodate this role. The 499P features semi-permanent all-wheel drive, with an electric motor at the front axle providing 200 kW (272 PS; 268 hp) above 190 km/h (118 mph) as stipulated by the regulations, connected to a bespoke 900 V battery pack rechargeable by Ferrari's own Energy Recovery System (ERS).
The 499P Modificata was unveiled during the 2023 Ferrari Finali Mondiali. It is a non-competitive, unrestricted, track-only version of the 499P made to celebrate Ferrari's Le Mans victory that year. The first event of the Sport Prototipi Clienti program, in which the 499P Modificata took part, took place at the Mugello Circuit on 18 March 2024.
Driver lineups for both cars drew from AF Corse's programmes, the Ferrari Driver Academy junior team, and a Scuderia Ferrari reserve. Antonio Fuoco, Miguel Molina and Nicklas Nielsen formed the #50 crew; James Calado, Antonio Giovinazzi and Alessandro Pier Guidi completed the #51 crew.
The 499P was immediately competitive at its first race: Fuoco in the #50 scored pole position ahead of both GR010 Hybrid entries from defending champions Toyota Gazoo Racing. Mistakes in the race dropped the #50 to third, two laps down on the leading Toyotas; the #51 finished 11 laps down. At the 2023 24 Hours of Le Mans, the #51 driven by Calado, Giovinazzi and Pier Guidi won the race — Ferrari's first overall Le Mans victory since 1965, ending Toyota Gazoo Racing's five-race winning streak. The 499P podiumed in every race except at Fuji, with Ferrari finishing second in the Manufacturers' Championship.
Ferrari maintained their driver lineups for both cars. AF Corse also entered a non-factory #83 car with Robert Kubica, Robert Shwartzman and Yifei Ye. The 499P took two wins: back-to-back at the 2024 24 Hours of Le Mans with Fuoco, Molina and Nielsen in the #50 car (narrowly holding off Toyota's chasing #7), and at the 2024 Lone Star Le Mans with the non-factory #83 car. Despite these victories the car scored fewer podiums overall as Porsche grew more competitive with the 963, fighting Ferrari and Toyota at the front for both championships. Ferrari finished third in the Manufacturers' Championship, behind Porsche and Toyota.
In the opening race of 2025, the Qatar Airways Qatar 1812 km, Ferrari achieved a historic triple podium: pole for Giovinazzi in the #51, with Fuoco, Molina and Nielsen winning in the #50, followed by the #83 in second and the #51 in third. At the 2025 6 Hours of Imola, the #51 took pole with Giovinazzi and won the race driven by Giovinazzi, Calado and Pier Guidi; the #50 suffered a puncture after contact with the #8 Toyota GR010 Hybrid driven by Sébastien Buemi and finished 15th. At the 2025 6 Hours of Spa-Francorchamps, Fuoco in the #50 achieved Hyperpole; the #51 driven by Calado, Giovinazzi and Pier Guidi won the race and also set the fastest lap, giving Ferrari a record 11 overall victories at Spa in the endurance championship, surpassing Porsche.
Ferrari completed a hat trick of 24 Hours of Le Mans victories with the 499P when the #83 customer AF Corse car took victory with Kubica, Yifei Ye and Phil Hanson. Kubica and Ye became the first Le Mans winners from their respective countries, Poland and China. The factory Ferraris finished third and fourth; the fourth-placed #50 was later disqualified due to a technical infringement. Ferrari completed a dominant championship season with the 499P, ending the year occupying the top three spots in the standings.
The first race of the 2026 season, the Qatar 1812 km at Losail International Circuit, was postponed due to the 2026 Iran war; the prologue and first race were rescheduled to Imola from 14 to 19 April 2026. At the 2026 6 Hours of Imola, Giovinazzi secured hyperpole for the #51. The #51 started positively but Ferrari's strategy did not prove successful and the car finished second behind the #8 Toyota.
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